Bitcoin and Ethereum Leveraged Positions Face Liquidation Pressure
AI Summary1 min read
TL;DR
Matrixport reports a deleveraging phase with high liquidation risks for Bitcoin and Ethereum. Ethereum futures open interest fell 50%, and Bitcoin nears $93,000 support, increasing selling pressure.
Tags
EthereumBitcoinLeverageLiquidationDeleveraging
Matrixport's market commentary indicates a distinct deleveraging phase with high positions facing increasing risks. Open interest in Ethereum futures contracts has decreased by 50%, while Bitcoin approaches a key support level at $93,000. Highly crowded long positions in futures have been largely liquidated, and ETF holdings are relatively concentrated, potentially leading to greater selling pressure and liquidity challenges.
